A better way to bring about adoption of blockchain and crypto-currency - page 3.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Your thread topic does not speak to the content of your thread, because it looks like you should have given the "better" options to speed up adoption, but then you ask how this can be done from the forum members. Roll Eyes

In any way, adoption will increase when governments accept Bitcoin as a currency and until that happens most merchants will be hesitant to accept it as a payment option. People already in the Bitcoin scene should also actively spread the word about Bitcoin on social media platforms to create awareness. Wink

minersday

hero member

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Quote from: Cjblog on October 02, 2019, 02:33:05 AM

What is your take on this? Which better can we drive adoption to the blockchain and crypto-currency industry...

Ignorance is the key reason why adoption of cryptocurrency into the mainstream financial ecosystem is slow.
People don't not really know and understand how cryptocurrency can transform the way people make transactions and also provide them with financial freedom. Once the world gains understanding regarding cryptocurrency, adoption will take place smoothly..
Blockchain on the other hand is massively used by the centralized institutions recording and keeping info. They accept blockchain technology as a public ledger but finds it difficult to accept it as a platform for decentralization of the financial ecosystem.

lobat999

sr. member

Activity: 1078

Merit: 310

Quote from: avikz on October 02, 2019, 11:17:07 AM

Quote from: Cjblog on October 02, 2019, 02:33:05 AM

Hello everyone...
Seeing as the Blockchain industry and crypto-currency market are still running low on adoption.

It prompted me to create this, as an Avenue to share our thoughts about how maximum adoption could be achieved in these industries.

What is your take on this? Which better can we drive adoption to the blockchain and crypto-currency industry...
Your opinion matters

Hopefully, a lot them will go a long way in boosting the participation in these industry.

Regulation, regulation and regulation!

These above things can only boost bitcoin/crypto adoption in a holistic manner! No other things! I repeat, no other things can help in bitcoin adoption at the scale that regulation can do! I know a lot of people are against any type of government regulation here! But if we want to see bitcoin being adopted in the mainstream economy, then government regulation is the only way to achieve this!

Take example of Japan!

I am more inclined to believe on this idea since once Governments formally recognizes blockchain technology and cryptocurrencies, I suppose there will be some form or type of regulations that will be imposed and I guess that would be okay for most people and in one way or another, will hasten general crypto adoption.

Even Japanese firms are entering into a consortium to create regulations for security tokens, thus formally recognizes the need to do so and in accordance with regulatory compliance on Japanese laws and regulations. Imagine once this regulatory framework is established, I think more companies would be willing to digitized / tokenize their securities without fear of Government interventions thus creating mass adoption across securities market.

Darker45

legendary

Activity: 2576

Merit: 1860

Quote from: avikz on October 02, 2019, 11:17:07 AM

Quote from: Cjblog on October 02, 2019, 02:33:05 AM

Hello everyone...
Seeing as the Blockchain industry and crypto-currency market are still running low on adoption.

It prompted me to create this, as an Avenue to share our thoughts about how maximum adoption could be achieved in these industries.

What is your take on this? Which better can we drive adoption to the blockchain and crypto-currency industry...
Your opinion matters

Hopefully, a lot them will go a long way in boosting the participation in these industry.

Regulation, regulation and regulation!

These above things can only boost bitcoin/crypto adoption in a holistic manner! No other things! I repeat, no other things can help in bitcoin adoption at the scale that regulation can do! I know a lot of people are against any type of government regulation here! But if we want to see bitcoin being adopted in the mainstream economy, then government regulation is the only way to achieve this!

Take example of Japan!

You have to qualify regulation. Regulation per se is kinda vague. Regulation will only be welcome and constructive if it is done within reasonable bounds. If not, regulation could actually mean killing the very essence or soul of Bitcoin/crypto and that to me is already bordering repression. Instead of mainstreaming Bitcoin/crypto adoption it could only push Bitcoin/crypto back to the underground and foment its revolutionary spirit against these regulating bodies.

It is also possible that beyond regulation is mainstream adoption. If Bitcoin/crypto is widely used, regulation will necessarily follow because a large portion of the populace is already using it as their currency. However, before hitting mainstream adoption certain developments will have to be installed first. Everything is like a domino effect now.

Eugenar

sr. member

Activity: 1274

Merit: 278

Here's my point, adoption takes place when the number of individual uses or utilizes bitcoin. If we were to force people to use bitcoin, higher and higher possibility that they will reject. But if we will make them think how valuable bitcoin is, then they will be on our side. Take for example: you own a grocery store, just put an option for another mode of payment thru bitcoin and provide discounts. Through that, customers will feel forced, but to feel curious about what bitcoin is. It takes time, but even adoption is slow, it will surely hit its goal.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: Cjblog on October 02, 2019, 02:33:05 AM

Hello everyone...
Seeing as the Blockchain industry and crypto-currency market are still running low on adoption.

It prompted me to create this, as an Avenue to share our thoughts about how maximum adoption could be achieved in these industries.

What is your take on this? Which better can we drive adoption to the blockchain and crypto-currency industry...
Your opinion matters

Hopefully, a lot them will go a long way in boosting the participation in these industry.

Regulation, regulation and regulation!

These above things can only boost bitcoin/crypto adoption in a holistic manner! No other things! I repeat, no other things can help in bitcoin adoption at the scale that regulation can do! I know a lot of people are against any type of government regulation here! But if we want to see bitcoin being adopted in the mainstream economy, then government regulation is the only way to achieve this!

Take example of Japan!

poptok1

hero member

Activity: 1638

Merit: 756

Bobby Fischer was right

Demanding for regulations is like asking for raising your taxes...
Guys you scare me, how can you seriously think that some lousy, politically driven law, will change something for the better?
That's legislative utopia. Any law that will happen to crypto, will harm it one way or another. <-- and that's a period, right there
We want big corporations and industries to join this crypto-experiment? Then let's just ask for it! Demand it and vote with your cash.
"Hey you, entrepreneur, look, I have piles of cash... want some?" Post about it, talk about it, let them hear you and will happen.
Call them fusty, old-fashioned or express your condolences for being "technologically excluded", SHAME them, and it will eventually happen.

🎵We don't need no regulations
We don't need no wallets control
No dark spyware on the hard-drives
People leave them states alone
Hey!🎵

kecha1

newbie

Activity: 44

Merit: 0

The best will be when the largest companies themselves will begin to use these technologies, and then begin the global popularization

Mandoy

sr. member

Activity: 644

Merit: 264

Aurox

Quote from: goto22 on October 02, 2019, 05:37:37 AM

There can be no adoption without regulations, so that's the first step. After that, the companies need to study the blockchain and see its advantages over old tech. And then, they need to feel the need to actually start using them to stay ahead of the competition, and ensure that they won't be left behind. Many are already exploring the technology and thinking about different use cases and its potential, but I don't expect many would actually implement it without it being properly regulated. They risk too much otherwise.

In line with your thought I am also thinking that the regulations set up by the government towards cryptocurrency is one big step towards bitcoin mainstreaming. Big industries and business centers would be awkward to adopt and accept such currency if it is not accepted by the government since this would mean high risk. If it is adopted by the government regulations and other requirements will be placed. When the government adopts such currency then big industries will no longer fear losing assets due to banning of cryptocurrency and this will drive bitcoin mainstreaming fast into the society.

goto22

jr. member

Activity: 56

Merit: 1

There can be no adoption without regulations, so that's the first step. After that, the companies need to study the blockchain and see its advantages over old tech. And then, they need to feel the need to actually start using them to stay ahead of the competition, and ensure that they won't be left behind. Many are already exploring the technology and thinking about different use cases and its potential, but I don't expect many would actually implement it without it being properly regulated. They risk too much otherwise.

Cjblog

jr. member

Activity: 178

Merit: 4

Hello everyone...
Seeing as the Blockchain industry and crypto-currency market are still running low on adoption.

It prompted me to create this, as an Avenue to share our thoughts about how maximum adoption could be achieved in these industries.

What is your take on this? Which better can we drive adoption to the blockchain and crypto-currency industry...
Your opinion matters

Hopefully, a lot them will go a long way in boosting the participation in these industry.

Topic: A better way to bring about adoption of blockchain and crypto-currency - page 3. (Read 523 times)